Effective March 14, 2016, Grismer will seize the reigns in his new role and begin reporting to Hyatt president and CEO Mark Hoplamazian.

In addition to overseeing every aspect of Hyatt's finances, Grismer will assist the company in achieving its strategic growth goals.

In a statement, Hoplamazian described Grismer as a "highly respected leader with strong financial acumen."

"His focus on driving superior business performance as we build differentiated brands will help us grow with intent and, in return, we believe will provide great value for our guests, colleagues, owners and shareholders," added Hoplamazian.

Grismer boasts a tremendous amount of experience in the role of chief financial officer. Prior to joining Hyatt he served as chief financial officer for YUM! Restaurants International and before that chief financial officer for the Disney Vacation Club.

Some of Grismer's other past titles include chief planning and control officer for YUM! Restaurants International and vice president of business planning and development for The Disneyland Resort.

In his own statement, Grismer expressed excitement about the hire and what lie ahead. "Hyatt’s portfolio of premier hotel brands and its commitment to quality and outstanding service truly differentiate it from the competition," he said. "I’m excited to be part of a global company poised for growth, and to join a team passionate about transforming the hospitality industry."

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